REDUCING COST OF DOING BUSINESS IS OUR AGENDA – CHIPOKA MULENGA

 By Kalobwe Bwalya

THE Government is working on mechanisms aimed at lowering the operational costs for manufacturers to grow the export sector for local businesses, says minister of Commerce, Trade and Industry Chipoka Mulenga.

In an interview, Mr. Mulenga said it was the desire of the Government to ensure that Zambia became the net exporter of finished goods in the southern African region.

Mr. Mulenga disclosed that this was in line with vision 2030 and the Eighth National Development Plan (8NDP), stating that the Government had continued to put in place measures aimed at mitigating business players against the economic challenges in the economy so that they could remain active participants in the economy.

He said this was also cardinal especially from the growth of the economy and stability of the exchange rate going forward.

He stated that the Government was working on mechanisms aimed at lowering the operational costs for manufacturers so as to grow the export sector for local businesses.

Mr. Mulenga said the Government had continued to put in place measures aimed at mitigating business players against the economic challenges in the economy so that they could remain active participants in the economy.

He said this was cardinal for the growth of the economy and stability of the exchange rate, adding that the Zambia Development Agency (ZDA) has recorded a decline in its non-traditional export earnings of US$ 10.42 billion for the year 2023.

He disclosed that this is a decline from US$ 11.92 recorded in the year 2022 and was an indicator that there was more that needed to be done to address this situation.

“ZDA has recorded a decline in its non-traditional export earnings of US$ 10.42 billion for the year 2023. However, the Government has continued to put in place measures aimed at mitigating business players against the economic challenges in the economy so that they can remain active participants in the economy because this is cardinal from the growth of the economy and stability of the exchange rate going forward,” Mr. Mulenga said.

And Mr. Mulenga said encouraging collaboration and entrepreneurship to drive economic growth was the way to go in order to strengthen the economy of the country.

He also mentioned that the Government was developing a framework to address the challenges faced by businesses and to create an enabling environment for economic development.